/24-7PressRelease/ - LONDON, UK, June 15, 2006 - There will be a seven percent difference in house prices between the beginning and the end of the year 2006, as suggested by the revised housing market forecast. It is also predicted that property sales will rise to a reasonable degree in next few months.
The revised housing market forecast for the next two years suggests that house prices will be seven percent higher at the end of the year 2006 in comparison to the beginning of the year. It also suggests that house price inflation will rise by three percent, instead of two percent, as predicted earlier.
The forecast also indicates that property sales will rise from 0.97 million to 1.2 million. The revised forecast throws light on predicted lender figures too. Initially it was predicted that the net lending would reach 80 billion this year. But now it is expected to reach 100 billion.
Jim Cunnigham, senior economist at the Council for Mortgage Lenders, told that there were signs of the demand to remain strong over the next few months. However, he observed that interest rate would influence the confidence and activity.
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